by Calculated Risk on 8/18/2009 09:32:00 PM

From Reuters: Guaranty Financial draws bid -- sources

A consortium that is led by financial services executive Gerald Ford and includes several private equity firms submitted a bid for troubled bank Guaranty Financial, despite uncertainty over U.S. regulation guidelines, sources familiar with the matter said on Tuesday.

It was unclear how many offers were submitted in total by Tuesday's deadline for bids, but sources said that there were also expected to be bids from other parties.

Today was the deadine for bids for the assets of Guaranty ($14.4 billion in assets as of Q1). My guess is the bank will be seized this week.

From Nick Timiraos at the WSJ: Corus Bids Enter the Final Stretch

New York developer the Related Cos. and Lubert-Adler Partners LP, a Philadelphia real-estate investment firm, have teamed up to bid on the assets of condo lender Corus Bank, joining a rival offer from Los Angeles private-equity fund Colony Capital LLC and iStar Financial Inc., the New York commercial-mortgage real-estate investment trust.

Several real-estate professionals see the Related-Lubert team as having the inside track to the bank's assets in a sale brokered by the Federal Deposit Insurance Corp., though other private-equity firms remain in the mix ...

From other reports, it appears the bidding on the assets of Corus will be open until Sept 3rd (Corus had $7.6 billion in assets as of Q1).

These will be the 2nd and 4th largest failures of the year. Colonial had $25 billion in assets, and BankUnited had $12.8 billion in assets when they failed.